Ethanol experiences $3.4b loss
The COVID-19 outbreak has already led to more than $3.4 billion in lost revenues for the U.S. ethanol industry, according to an economic analysis released last week by the Renewable Fuels Association. (RFA).
The RFA study also found that pandemic-related damages in 2020 and 2021 could reach nearly $9 billion.
For the period running from March through June 2020, the study found the cumulative decline in ethanol production and consumption exceeded 1.3 billion gallons; nearly 500 million fewer bushels of corn were used in ethanol production during the period; and industry revenues...
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